TODAY

Please introduce AMCC in brief…

The AMCC is a not-for profit organization which aims to promote responsible bilateral trade and investment between Australia and Myanmar and promote closer economic ties between the two countries. The outcomes the Chamber aims to achieve are threefold:

• support Australian businesses seeking to enter or explore opportunities in Myanmar;
• promote responsible investment in Myanmar by sharing Australian best practice; and
• assist in capacity building in the private and public sectors in Myanmar.

One of the key roles of the AMCC is to assist Australian businesses interested in investing in Myanmar or businesses interesting in working more closely with Myanmar companies.

Membership of the Chamber offers exclusive opportunity to build ties with key decision-makers across many different sectors in both Australia and Myanmar. The Chamber aims to provide members with resources and access to networks that are needed to successfully navigate the business environment in Myanmar and gain insight into a rapidly changing market.

Expanding business in Myanmar requires establishing a wide network of contacts in both government and industry and this is essential to doing business in Myanmar. Membership with the A-MCC provides businesses with access to networking opportunities and invaluable links to key industry and government players in Australia and Myanmar.

The Myanmar Government is opening up industries such as mining, construction, manufacturing, agriculture, infrastructure, education and services. It is lifting restrictions, pursuing privatizations and encouraging foreign investment. As such Myanmar private businesses are searching for capital and modern technical expertise. Members of the A-MCC will be able to gain valuable insight into Myanmar markets though the Chamber’s initiatives such as delegations and industry working groups and our close workings with other chambers within Myanmar and across the South East Asian region. We are, for example, taking a Myanmar mining delegations to Australia in May- this will provide Myanmar government officials with the opportunity to see, first-hand, the way in which the mining industry operates in Australia.

As Myanmar transitions to an open market economy after decades of isolation, there is great scope for the Australian private sector and institutions to play a constructive role in the development of Myanmar economy. The A-MCC focuses on building a platform for Australian companies and institutions to share their world-class expertise and international best practices with their counterparts in Myanmar.

At this critical juncture in Myanmar’s history Australian companies in Myanmar are in a privileged position to positively contribute to inclusive economic growth that will shape the nation’s future. With a network of almost 100 members the Chamber can act as a facilitator of best practice standards, and serve as a voice for the business community to share their knowledge for the betterment of the country.

For more information relating to AMCC please visit www.a-mcc.com or email us at info@a-mcc.com

How many member companies AMCC have?

Currently there are about 110 members are joining AMCC, a combination of both Australian and Myanmar companies and individuals. We also have some NGOs like Australian Red Cross, World Vision etc.

Myanmar companies and also other non-Australian companies are welcome to become members of AMCC also. We have recently had Max Myanmar Co Ltd and Eden Group, both large Myanmar conglomerates, sign on as premium members.

What are your current future projects for AMCC?

The AMCC will continue to deliver on its objectives and goals for its members and for the broader business community. We will continue the great work of the AMCC Responsible Investment Working Group in 2017 and will be holding briefings and workshops to the Myanmar Government on the Position Paper “Incentivizing Shared Value” developed by the Responsible Investment Working Group;

We will also further work with Myanmar government through the positive work our Mining Law Working Group has been engaged in to date. We will be rolling out our Women in Business Leadership agenda for 2017 and recently presented workshops for young Myanmar women throughout the first ever Women’s Week Myanmar. There will also be event and workshops aimed at promoting the great work women in Myanmar are doing and aim at capacity building in this space which will be held on a regular basis throughout the remainder of 2017.

Other initiatives the AMCC has planned for 2017 include:

• Working in partnership with the Australian Government on a mining delegation to Australia;
• Delivering a Good Corporate Governance Series of seminars providing members with the opportunity to co-host an event with the Chamber in their relevant industry with a focus on promoting anti-corruption and transparency measures;
• Hosting events in conjunction with Austrade and UMFCCI;
• Delivering capacity building seminars providing opportunities for members to co-host an event with the Chamber ;
• Opportunities to engage with senior government leaders to positively influence public policy;
• Increased engagement with the Myanmar business community;
• Increased frequency of events across Australia providing members with the opportunity to showcase their Myanmar experience;
• Increased volume of strategic events and briefings in both Australia and Myanmar.

Please describe main Australian companies present in Myanmar today…

The main Australian companies in Myanmar today are Woodside, SMEC, ANZ Bank, BlueScope Steel, Cardno, RJE, Meinhardt, Omni AssistandCoffey. The education agents and service providers present from Australia are AVSS, Edulink Australia, Bridge Blue and AEC. It is estimated that there are around 30-50 other micro, small businesses with representative offices or Myanmar business with Australian senior management and there are a growing number of Australians working in legal, accounting, business services consulting and other consulting operations.

What is your view on Myanmar economy in the coming year?

The IMF’s world economic outlook published earlier last year projected GDP growth of 8.6% in Myanmar – the highest in the world. While this high figure has since been downgraded I think the high levels of inflation are typical of fast growing economies like this one. I also think, and hope,  foreign investment is likely to increase following the full implementation of the Investment Law and Companies Act, bringing with it higher employment rates.

The Myanmar Government will need to spend a lot on important works related to health, education and infrastructure(amongst other critical initiatives) and as such I see that they will have to do a lot more raising revenue through increasing of taxes and other measures.

What advice would you give to someone who is looking to invest in Myanmar?

Do your due diligence; be set to deal with poor infrastructure, power cuts, bureaucracy and red tape. Have realistic timing expectations when setting your business model- be in it for the long haul- it may take a while but it’ll be an interesting experience!